The Powersports market (jet skis, motorcycles, ATVs, etc) is expected to surpass $50M per annum by 2027. 80% of purchases in this market require financing. Octane is a point-of-sale platform that enables power sport dealers and brands to provide automated financing solutions to their customers to close transactions. The company’s end-to-end platform covers all aspects of the lending process from origination to closing. Initially, a marketplace to connect lenders and purchasers, Octane launched its own lending unit, Roadrunner Financial, in 2016. To support the end-to-end purchase experience for consumers, the startup also operates a number of content destinations that are focused on editorial content for Powersports enthusiasts. Octane is currently working with over 3800 dealers and directly with ~50 brands, supported by a team of 300+ that’s growing fast. AlleyWatch caught up with CEO and Cofounder Jason Guss to learn more about the massive opportunity for financing in the Powersports market, the company’s strategic plans, and latest round of funding that comes at a $900M+ valuation from investors that includes Progressive Investment CompanyValar Ventures, Upper90, Contour Venture Partners, Citi Ventures, Third Prime, Parkwood, Gaingels, and ALIVE.
Transportation
Actasys Raises $5M for its Sensor Cleaning Technology Necessary for a Future with Autonomous Vehicles
There are approximately 22 billion sensors used in the automotive industry per year according to a 2017 study and the average automobile has at least 60 individual sensors. The push towards autonomous vehicles will only increase the number of sensors used exponentially. Actasys has built a critical sensor-cleaning technology for vehicles and smart mobility systems ensuring that these sensors can be operated continuously safely. ActaJet™ is an electronically controlled array of actuator cartridges that generates strong jets of air without the need for mechanical pumps or compressors. The company is partnered with automotive companies like Volvo and the technology is also being deployed in other use-cases such as robots, camera systems, traffic monitors, and more. AlleyWatch caught up with CEO Miles Flamenbaum to learn more about the core technology, its practical uses, and the company’s recent funding round.
NASA Prepares the Nation for Flying Taxis?
Autonomous eVTOLs (electric Vertical Take-Off and Landing systems) are coming sooner than you think.
5 Exciting Technologies That Need Your Execution Help
As a business advisor and technologist, I often think about the large array of opportunities for entrepreneurs as technology seems to be evolving faster and faster. Yet I still too often hear the question, “Can you give me a really sure-fire idea for starting my own business?” My standard answer is that ideas are a […]
Amazon Bolts New York City To Keep Truckin’
My throat is sore from touting New York’s tech prowess, which I realize has been for naught. Almost as quickly as the balloons from the Mayor’s celebration lost their air did Amazon announce it was leaving the Big Apple. The blow to our local venture community is like a sucker punch to the gut. While […]
Machines That Smell Trouble
Abruptly, I enter the cab escaping the arctic weather to confront something worse than freezing rain – body odor. Luckily, another taxi pulled to the curb and I continued my journey to last Tuesday’s RobotLab forum on Cybersecurity & Machines. Moderating a panel at the new Global Cyber Center, with John Frankel of ffVC and Guy Franklin of SOSA, I […]
This App Fixes One of the Worst Issues That NYC Taxi Drivers Face Every Day
There are more than 100K taxis and black cars in NYC, but despite this huge number, professional drivers have to wait up to an hour before they can get out on the road and to begin their shifts. But technological platform Lacus fixes this through its mobile app that gives drivers access to nearby taxis […]
The End Of Parking As We Know It
A day before snow decapacitated New York commuters, researchers at the University of Iowa and Princeton demurred the growth of urbanization as the leading cause for catastrophic storm damage. Wednesday’s report stated that the $128 billion wake of Hurricane Harvey was 21 times greater due to the population density of Houston, one of America’s fastest growing cities. […]
This Airport Car Service Just Launched in NYC to Make Sure a Child’s Safety is Never Compromised
Millions of people use car services, taxis, and ride-sharing apps to get to the airport, and many of these people are parents traveling with kids who need to be in car seats by law. Unless the parent is lugging around a car seat, this poses a specific problem when hopping into the usual car service. […]
Motivate, the Company Behind Citi Bike, Acquired by Lyft for a Rumored $250M
The urban mobility space is absolutely on fire with recent transactions like Uber’s acquisition of JUMP Bikes, Bird’s $300M recent funding, and Lime’s recent $250M funding. Lyft is now making its foray into the market with its acquisition of Motivate, the company that operates Citi Bike in NYC and bike-sharing services in 7 other markets […]
FairFare is the Last Ride Sharing App You Will Ever Download
Lyft or Uber? You’ve asked yourself this question hundreds of times and you know how annoying it is to open up both apps to compare prices and ETAs. Well now there is an app that does the legwork for you. FairFare, the app comparing available ridesharing apps and recommending the best route for you, takes […]